McKinsey & Co, the consulting firm, has agreed to pay $573 million to resolve investigations by most U.S. states over its alleged role in helping "turbocharging" sales of opioids, fueling a nationwide epidemic.
By Reuters Staff
1 Min Read
Feb 4 (Reuters) - McKinsey & Co, the consulting firm, has agreed to pay $573 million to resolve investigations by most U.S. states over its alleged role in helping “turbocharging” sales of opioids, fueling a nationwide epidemic.
The settlement with 47 states, the District of Columbia and five territories was announced by multiple state attorneys general.
“This crisis is fundamentally one of overprescribing,” North Carolina Attorney General Josh Stein said at a press conference. (Reporting by Jonathan Stempel in New York Editing by Chizu Nomiyama)
By Jonathan Stempel (Reuters) - McKinsey & Co, the consulting firm, has agreed to pay $573 million to resolve investigations by most U.S. states over its alleged role in turbocharging sales of opioids such as OxyContin, fueling a nationwide epidemic. Most money from the settlement with 47 states, the District of Columbia and five territories will go toward opioid treatment and prevention.
McKinsey did not admit liability or wrongdoing, and said it had also settled with two additional states, boosting its payout to nearly $600 million. The firm must also turn over tens of thousands of internal documents concerning its work for drugmakers including Purdue Pharma, which is owned by the wealthy Sackler family and is the drugmaker most closely associated with the epidemic.
3 Min Read
(Reuters) - Consulting firm McKinsey & Company on Thursday said it has agreed to pay nearly $600 million to resolve investigations by most U.S. states into its alleged role in “turbocharging” sales of opioids, fueling a nationwide epidemic.
McKinsey struck a $573 million settlement with 47 states, the District of Columbia and five territories which will go toward opioid treatment and prevention. It reached separate deals with Washington state and West Virginia that boost the total.
The states alleged that McKinsey contributed to the opioid crisis by helping drug manufacturers including OxyContin maker Purdue Pharma, owned by Sackler family members, design marketing plans and boost sales of painkillers.
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